Business & Leisure Column

For the first payroll period of 2018, the employees at the office grinned with pleasure at their reduced or absence of personal income tax as Republic Act 10963 or the Tax Reform for Acceleration and Inclusion Act (TRAIN) took effect. Employees with salaries (including fixed allowances) of P20,000/month or P250,000 a year became tax exempt and working husbands and wives with a total income of P500,000 or less realize their full pay without paying taxes to the government.

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